You’re conflating a lot of things as being the same thing and it’s important to draw the lines between them because conflation causes confusion that can and will cause harm if acted on.
Yes, a currency’s relationship with labor fluctuates due to how a market prices labor, but this isnt the fault of currency. It’s a fault with labor markets. In a labor market buyers almost always have an advantage over sellers and as such can devalue labor seemingly at will. This does not in turn change the value of the currency though.
You’re also right to say the Fed has a responsibility to secure market stability and that right now stability is measured in the independant wealth of businesses. However, the Fed is not private, it’s a public structure. It’s been captured by private interests because Americans largely dont understand/care about economic infrastructure. At any point the Fed could raise interest rates to a degree that almost entirely stops borrowing and that would curb inflation the other way. The downside to this is that it would make borrowing impossible for both small and large businesses. The Fed has a very large lever and no discretion. I dont think I need to say that small businesses dying is also not very good for the labor class.
As for your argument on money and self-worth. I largely just chalk this up to being a propaganda campaign to get laborers more interested in currency accumulation over community building. That isnt something that changes with fiscal policy though. That’s a culture issue. I’ve yet to convince anyone though that the two are separate, much less that their culture ought to be changed. The cold reality is that many Americans prefer it this way. They’d rather be a slave in a system where they could see themselves as kings over a system without kings but higher standards of living.
You’re conflating a lot of things as being the same thing and it’s important to draw the lines between them because conflation causes confusion that can and will cause harm if acted on.
Yes, a currency’s relationship with labor fluctuates due to how a market prices labor, but this isnt the fault of currency. It’s a fault with labor markets. In a labor market buyers almost always have an advantage over sellers and as such can devalue labor seemingly at will. This does not in turn change the value of the currency though.
You’re also right to say the Fed has a responsibility to secure market stability and that right now stability is measured in the independant wealth of businesses. However, the Fed is not private, it’s a public structure. It’s been captured by private interests because Americans largely dont understand/care about economic infrastructure. At any point the Fed could raise interest rates to a degree that almost entirely stops borrowing and that would curb inflation the other way. The downside to this is that it would make borrowing impossible for both small and large businesses. The Fed has a very large lever and no discretion. I dont think I need to say that small businesses dying is also not very good for the labor class.
As for your argument on money and self-worth. I largely just chalk this up to being a propaganda campaign to get laborers more interested in currency accumulation over community building. That isnt something that changes with fiscal policy though. That’s a culture issue. I’ve yet to convince anyone though that the two are separate, much less that their culture ought to be changed. The cold reality is that many Americans prefer it this way. They’d rather be a slave in a system where they could see themselves as kings over a system without kings but higher standards of living.